Commissions

Stocks, ETFs (ETPs) and Warrants - Fixed Pricing Structure



North America

Our Fixed pricing for stocks, ETFs (Exchange Traded Products, or ETPs) and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and most regulatory fees with the exception of the transaction fees, which are passed through on all stock sales.


United States 6
Fixed Minimum Per Order Maximum Per Order
USD 0.005 per share USD 1.00 0.5% of trade value 1, 7

100 Shares @ USD 25 Share Price = USD 1.00
1,000 Shares @ USD 25 Share Price = USD 5.00
1,000 Shares @ USD 0.25 Share Price = USD 1.25


United States - Commission-Free ETFs
Product Fixed Minimum Per Order Maximum Per Order
Global X ETFs USD 0.00 per share USD 0.00 USD 0.00
Infrastructure ETFs USD 0.00 per share USD 0.00 USD 0.00
O'Shares ETFs USD 0.00 per share USD 0.00 USD 0.00
Cambria ETFs USD 0.00 per share USD 0.00 USD 0.00
Eaton Vance NextShares Exchange-Traded Managed Funds USD 0.00 per share USD 0.00 USD 0.00
ETF Securities ETFs USD 0.00 per share USD 0.00 USD 0.00
ACSI ETFs USD 0.00 per share USD 0.00 USD 0.00


US API Directed Orders 3
Value Fixed Minimum Per Order Maximum Per Order
All USD 0.0075 per share USD 1.00 0.5% of trade value 1

500 Shares @ USD 25 Share Price = USD 3.75

Guaranteed VWAP Orders
Fixed Minimum Per Order Maximum Per Order
USD 0.02 per share USD 1.00 0.5% of trade value 1

100 Shares @ USD 25 Share Price = USD 2.00

DARK
Remove Liquidity Add Liquidity
Directed orders N/A 4 N/A
Smart-routed orders Normal commission applies minus 0.001 per share N/A

IBKRATS/IBDARK
Remove Liquidity Add Liquidity
Directed orders N/A 4 Normal commission applies
Smart-routed orders Normal commission applies minus 0.001 per share Normal commission applies minus 0.001 per share

CSFB ALGO, CSFB PATH and JEFFALGO
Fee
Normal commission applies plus USD 0.0010 per share
Transaction Fees
(Stocks, ETF, Warrants, Rights, Voting Trust Certificates) USD 0.0000231 * Value of Aggregate Sales
FINRA Trading Activity Fee USD 0.000119 * Quantity Sold 8

Trade Allocation Minimum Commissions

We charge a minimum commission for US stock trades allocated by Advisors and Brokers to their clients. Advisors and Brokers can choose to charge the allocation minimum fee to their master account or to the client account. By default, the allocation minimum is charged to the client account unless there is a specific rate arrangement between the client and the master account.

US Stocks Minimum (trade value * 0.0005, USD 1)

100 Shares executed at a price of USD 100.00 allocated to two accounts (50/50):
Allocation Size = 50
Trade Value Per Allocation = USD 5,000
Minimum (5000 * 0.0005, USD 1) = Minimum (2.5, 1)
New Total Fixed Commission Per Allocation = 1.00

100 Shares executed at a price of USD 12.00 allocated to two accounts (50/50):
Allocation Size = 50
Trade Value Per Allocation = USD 600
Minimum (600 * 0.0005, USD 1) = (0.3, 1)
New Total Fixed Commission Per Allocation = 0.30


Canada
Fixed Minimum Per Order Maximum Per Order
CAD 0.01 per share CAD 1.00 0.5% of trade value 1, 2

100 Shares @ CAD 25 Share Price = CAD 1.00


Mexico
Fixed Minimum Per Order Maximum Per Order
MXN 0.1% of trade value MXN 60.00 N/A

700 Shares @ MXN 100 Share Price = MXN 70.00


Notes:

  1. Plus the applicable exchange, ECN and/or specialist fees based on execution venue.
  2. For orders that are immediately executed against an existing bid or offer on the exchange's order book, an exchange liquidity removing fee will be added. See the Tiered North America section for details of the exchange fees.
  3. This charge does not apply to relative, pegged to market and pegged to midpoint orders.
  4. Directed orders to IBKRATS/IBDARK that are marketable will generally be rejected.
  5. Transaction fees are only charged for sell orders.
  6. Includes NMS, OTCBB, NextShares and Pink Sheet Stocks.
  7. In the event the calculated maximum per order is less than the minimum per order, the minimum per order will be assessed.
  8. Maximum USD 5.95 per trade. In the case of partial executions, each execution is considered one trade.

  • Commissions apply to all order types.
  • All exchange fees are included.
  • For clients who send an extraordinary number of non-marketable limit orders to the NYSE, and who route such orders direct to NYSE, rather than using IB Smart routing, IB reserves the right to impose a surcharge in order to defray specialist order handling charges. In this event, IB will provide notice to affected clients.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.



Europe

Our Fixed pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.


Austria
Fixed Minimum Per Order Maximum Per Order
All 0.1% of trade value EUR 4.00 EUR 120.00

100 Shares @ EUR 50 Share Price = EUR 5.00


Belgium
Fixed Minimum Per Order Maximum Per Order
All 0.1% of trade value EUR 4.00 EUR 29.00

100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00


France
Fixed Minimum Per Order Maximum Per Order
Euro-denominated 0.1% of trade value EUR 4.00 EUR 29.00
USD-denominated 0.1% of trade value USD 5.00 USD 42.00

100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00
100 Shares @ USD 75 Share Price = USD 7.50


Germany
Fixed Minimum Per Order Maximum Per Order
SWB 0.12% of trade value EUR 6.00 None
SWB Warrants 0.12% of trade value EUR 6.00 EUR 49.00
FWB 2 0.1% of trade value EUR 4.00 EUR 99.00
FWB Warrants 0.1% of trade value EUR 4.00 EUR 49.00
TradeLink Warrants (currently SocGen products only) 0.1% of trade value EUR 4.00 EUR 29.00
Chi-X / BATS / Turquoise DE / Tradegate 0.1% of trade value EUR 4.00 EUR 29.00
Xetra - ETFs 0.1% of trade value EUR 4.00 EUR 29.00
Xetra - Stocks 0.1% of trade value EUR 4.00 EUR 99.00

100 Shares @ EUR 50 Share Price = EUR 6.00

FWB:
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 50.00

Chi-X / BATS / Turquoise DE / Tradegate:
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00

Xetra - ETFs:
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00

Xetra - Stocks:
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 50.00


Hungary
Fixed Minimum Per Order Maximum Per Order
Stocks 0.1% of trade value HUF 200 No Maximum

100 Shares @ HUF 50 Share Price = HUF 200
1,000 Shares @ HUF 500 Share Price = HUF 500


Italy
Fixed Minimum Per Order Maximum Per Order
Stocks, ETFs & Funds 0.1% of trade value EUR 4.00 EUR 29.00
Warrants & Structured Products 0.1% of trade value EUR 6.00 EUR 29.00

100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00


Netherlands
Fixed Minimum Per Order Maximum Per Order
Euro-denominated 0.1% of trade value EUR 4.00 EUR 29.00
USD-denominated 0.1% of trade value USD 5.00 USD 42.00

100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00
100 Shares @ USD 75 Share Price = USD 7.50


Norway
Fixed Minimum Per Order Maximum Per Order
All 0.05% of trade value NOK 49.00 None


Poland
Fixed Minimum Per Order Maximum Per Order
All 0.1% of trade value PLN 15.00 N/A

100 Shares @ PLN 50 Share Price = PLN 15.00
1,000 Shares @ PLN 50 Share Price = PLN 50.00


Portugal
Fixed Minimum Per Order Maximum Per Order
All 0.15% of trade value EUR 6.00 None

100 Shares @ EUR 50 Share Price = EUR 7.50


Spain
Fixed Minimum Per Order Maximum Per Order
All 0.1% of trade value EUR 4.00 None

100 Shares @ EUR 50 Share Price = EUR 5.00


Sweden
Fixed Minimum Per Order Maximum Per Order
All 0.05% of trade value SEK 49.00 None

100 Shares @ SEK 50 Share Price = SEK 49.00


Switzerland
Fixed Minimum Per Order Maximum Per Order
CHF-denominated 3 0.1% of trade value CHF 10.00 None
EUR-denominated 0.1% of trade value EUR 10.00 None
USD-denominated 0.1% of trade value USD 10.00 None
GBP-denominated 0.1% of trade value GBP 6.00 None

100 Shares @ CHF 50 Share Price = CHF 10.00


United Kingdom 1, 4
Fixed Minimum Per Order Maximum Per Order
Up to GBP 50,000 Trade Value GBP 6.00 GBP 6.00 GBP 6.00
> GBP 50,000 Trade Value GBP 6.00 + 0.05%
of incremental trade value > GBP 50,000
GBP 6.00 GBP 29.00
LSE International Order Book and USD-denominated stocks USD 0.05% of trade value USD 5.00 None
EUR-denominated stocks 0.1% of trade value EUR 4.00 EUR 29.00

100 Shares @ GBP 50 Share Price= GBP 6.00
30,000 Shares @ GBP 2 Share Price= GBP 11.00
100 Shares @ USD 100 Share Price = USD 5.00


Notes:

  1. Stamp taxes (UK=0.5%, Ireland=1%) are directly passed through to the client.
  2. Plus Trade Fee. Click here for more details.
  3. In addition to the standard commissions, IB will pass thru a trade reporting fee of CHF 1.00 per Trade.
  4. IB is also required to charge the Panel of Takeovers and Mergers Levy of GBP 1.00 on all orders over GBP 10,000 on shares of companies registered in the United Kingdom, Isle of Man or Channel Islands.

  • Commissions apply to all order types.
  • All exchange and regulatory fees are included.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
  • Effective August 1, 2012, securities issued by French companies with a market capitalization of 1 billion EUR as of January 1, 2012 will be subject to a transaction tax. For additional details regarding the calculation of the tax, please refer here.
  • Effective March 1, 2013, certain Italian stocks will be subject to a transaction tax. For additional details regarding the calculation of the tax, please refer here.
    Effective September 1, 2013, derivatives on those Italian securities subject to the transaction tax will similarly become subject to a transaction tax. For additional details regarding the derivative transaction tax, please refer here.

  • For European stock Algo orders, IB will apply the commission cap as follows:

    For EUR-denominated stocks every EUR 75,000 of executed value a new per order cap will be applied
    For CHF-denominated stocks every CHF 100,000 of executed value a new per order cap will be applied
    For GBP-denominated stocks every GBP 65,000 of executed value a new per order cap will be applied


Asia-Pacific

Our Fixed pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.


Australia
Tier Fixed Minimum Per Order Maximum Per Order
All 0.08% of trade value AUD 6.00 N/A

400 shares@ AUD 50 Share Price= AUD 16


Hong Kong 1, 2
Tier Fixed Minimum Per Order Maximum Per Order
SEHK Stocks 0.08% of trade value HKD 18 N/A
SEHK Warrants, Structured Products 0.08% of trade value HKD 10 N/A
Shanghai-Hong Kong Connect Stocks 0.08% of trade value CNH 15 N/A

400 shares@ HKD 70 Share Price= HKD 22.40


India 3

Securities Transaction Tax, Exchange Charges, and GST

Product Standard Minimum Maximum
Stocks4 1 bps INR 6 INR 20


Japan
Tier Fixed Minimum Per Order Maximum Per Order
All 0.08% of trade value JPY 80 N/A

100 Shares @ JPY 10,000 Share Price= JPY 800


Singapore
Tier Fixed Minimum Per Order Maximum Per Order
All 0.08% of trade value SGD 2.50
USD 2.00
HKD 18.00
N/A

100 Shares @ SGD 50 Share Price= SGD 4


Notes:

  1. All exchange and regulatory fees are included, except in Hong Kong.
  2. For Hong Kong, all external costs will be passed through to clients. This includes exchange trading fees, exchange trading tariff, settlement fees, government stamp duty (0.1% rounded up to the nearest 1.00 for SEHK stocks, applies to stocks only) and SFC transaction levy (0.0027%, applies to stocks and warrants) as applicable activity regardless of commission model. Click here for fee schedule for SEHK shares and here for the fee schedule for Shanghai-Hong Kong Connect shares.
  3. Stocks on the NSE are only available to Indian residents.
  4. Up to per order value of INR 1,000,000. Portion of order above INR 1,000,000 will be charged 2 bps.

  • Commissions apply to all order types.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.